This could well be a continuation pattern before Bitcoin rallies potentially as high as 7400 in bear-mangling
pattern - after throwing everyone off it's back except day traders - who are also now fighting a narrowing field
with a little appearing over the last hour or so, some and some but neither yet
winning the argument - but it's centred precisely around the 6450 , nevertheless, so this level remains
important to the bulls - and bears and does seem to be the key level for the day, still.
For Bulls to win the day they have to force price back above 6450 firstly, and then 6550 where the old dynamic
lies once more and it has to hold up on the first retest of this line from above if broken at any point on 15 minute,
or at least must leave a if broken for a few moments - it's still possible at this point - if we see it and the
retest is successful (this turgid process can take a couple of hours, and like fishing it helps if you can maintain a
zen-like calm if you trade this break, should we see it. Looking to follow on the retest with stop under 6470 for now,
looking to close out at 6940 if touched and likely go short for 200 points on first touch with stop 50 points above.
For the bears to win out from here all that needs to happen is for price to remain under 6450 . it really
could flip either way and all this indecision bleeds out of the chart - too much mixed super near term conflict,
players so exhausted or baffled that fighting has ground to stand still...for now...
So far the attempted break above 6550 is failing...still stuck in neutral, but the bulls are really trying for it now.
Faster updates are available by subscribing free to Tradingview.com where comments can be updated quickly
without struggling with formats and charts and other BS. Followers can get automatic notification of updates from
there. I'm still trying to refine this, and to find the best way to deliver timely updates without overload. And also looking
for a social-media savvy US based promoter to help take this to the next level. Today wasn't great but where else can you
make 1500 points on the weekend in a flat market overall? Isn't it better than the Londay day-break strategy ? Or not ?
Please respond, it means a lot to get honest feedback and any suggestions are welcome, particularly from those followers
who have joined the hunt for Bitcoin and have followed for a week or two. Anyone out there interested in any of that? And
who is that daybreak strategy guy anyway? It's like he's living in my computer. Anyone out there? Please respond. It will
help improve the service.
A review of a pretty poor day is on the chart itself fyi with mistakes owned and explained. At least losses were always
contained with stops. One small consolation from a day of whipsaw and indecision and busted stops.
Downside is trickier to judge right now unless day-trading between the lines - don't think it's safe to short again unless 6300 gives way. and at moment the pattern is not saying bearish, just boring . Be Lucky! patient too
My suggestion - exclude text from the chart. There is plenty of analyses below your chart.
Try to include your movement analyses in your chart instead of placing text there with minimalism - So that newbies can learn from you as well.
Keep up a great work. Thank you, once again.